Your risk of getting a tax audit ‘is way up’
IRA takes tougher stance on returns
Based on the amount of income that Americans fail to report every year - $345 billion, according to one government report - millions of Americans have little fear of a government audit.
But tax pros and government reports suggest the Internal Revenue Service is gradually shedding its “kinder and gentler” attitude […]
Tax Preparers Unreported Income Criminal Penalties and Fines
For my upcoming seminar May 2008 on IRS and Unreported Income I have prepared the following summary: Tax Preparers Unreported Income: Criminal Penalties and Fines (Imprisonment up to 18 Years)
Felonies
1) IRC §7201: Tax Evasion (Willful Evasion of Tax)
Felony: Up to 5 years in prison
Fine: $100,000 (individual), $500,000 (corporation)
2) IRC §7206: Fraudulent Tax Return (Preparation)
Felony: Up […]
Tax Payers Unreported Income Criminal Penalties and Fines
For my upcoming seminar May 2008 on IRS and Unreported Income I have prepared the following summary:
Tax Payers Unreported Income: Criminal Penalties and Fines
Imprisonment (Up to 14 Years)
Felonies
1) IRC §7201: Tax Evasion (Willful Evasion of Tax)
Felony: Up to 5 years in prison
Fine: $100,000 (individual) $500,000 (corporation)
2. Additional Felonies
IRC §7212: Obstruct (Impede) Tax Collection
18 U.S.C. 371: […]
Actor Snipes acquitted of tax fraud, guilty of failing to file a return
Highlights of Los Angeles Times article 2/2/2008
A federal jury in Florida acquitted actor Wesley Snipes of felony charges of tax fraud and conspiracy Friday but found the former high-profile star guilty on three misdemeanor charges of failing to file a tax return.
Snipes and two co-defendants were indicted in October 2006. The government alleged that he […]
